IVERIC bio (NASDAQ:ISEE) Raised to Hold at ValuEngine

ValuEngine upgraded shares of IVERIC bio (NASDAQ:ISEE) from a sell rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

Other research analysts have also issued reports about the company. Wedbush began coverage on IVERIC bio in a research note on Monday, January 6th. They set an outperform rating for the company. Cowen began coverage on IVERIC bio in a research note on Friday, January 24th. They set an outperform rating for the company. Finally, BidaskClub lowered IVERIC bio from a buy rating to a hold rating in a research note on Saturday, February 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $1.50.

Shares of NASDAQ ISEE traded up $0.37 during trading hours on Thursday, reaching $3.43. The stock had a trading volume of 338,644 shares, compared to its average volume of 496,905. The business’s fifty day moving average is $4.58 and its two-hundred day moving average is $4.48. IVERIC bio has a twelve month low of $0.91 and a twelve month high of $8.97. The company has a market cap of $159.01 million, a price-to-earnings ratio of -2.47 and a beta of 2.38.

IVERIC bio (NASDAQ:ISEE) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.11). Research analysts predict that IVERIC bio will post -1.45 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of IVERIC bio by 24.1% during the fourth quarter. Geode Capital Management LLC now owns 215,709 shares of the company’s stock worth $1,850,000 after purchasing an additional 41,935 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of IVERIC bio during the fourth quarter worth $8,497,000. Samsara BioCapital LLC bought a new stake in shares of IVERIC bio during the fourth quarter worth $6,006,000. AXA bought a new stake in shares of IVERIC bio during the fourth quarter worth $453,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of IVERIC bio during the fourth quarter worth $960,000. Institutional investors own 63.55% of the company’s stock.

About IVERIC bio

IVERIC bio, Inc, a biopharmaceutical company, develops novel therapies to treat ophthalmic diseases with a focus on age-related and orphan retinal diseases. The company is developing Zimura, an inhibitor of complement factor C5, which is in Phase IIb clinical trials for the treatment of geographic atrophy (GA), a late-stage form of dry age-related macular degeneration (AMD) characterized by retinal cell death and degeneration of tissue in the central portion of the retina known as the macula; and autosomal recessive Stargardt disease (STGD1), which is an orphan inherited retinal disease (IRD).

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